Award-winning Multi-family Property Bought by Family Trust
MZ Scottsdale, an award-winning, multi-family property in the heart of Scottsdale, has been sold for $9.2 million. The sale established a new record for the highest price per apartment in Metropolitan Phoenix. The record setting price was $836,363 per unit, which amounts to $533 per square foot.
“This very unique, luxury property is located near one of the most prestigious intersections in the Phoenix metropolitan area,” says Chris Roach of Colliers in Arizona. “The Scottsdale and Camelback roads location offers unrivaled entertainment, walkability and is surrounded by Scottsdale’s preeminent development projects.”
Chris Roach, Brad Cooke, Matt Roach and Cindy Cooke of Colliers in Arizona represented the seller, MZ2 Partners, LLC (Ed Gorman of MODUS Development and Mark Winkleman of MGS Realty) in the transaction. The buyer was Baxter/Tao Family Trust from California.
MZ Scottsdale was constructed in 2019 by award-winning MODUS Development, which is nationally recognized as a premier developer of Net Zero Energy (NZE) and LEED-H buildings. MZ Scottsdale includes 11 luxury rental townhomes, consisting of one, two and three bedroom units, and was 100% occipied at the time of the sale. The community is recognized for its eco-friendly, Net Zero Energy design. The community was progressively constructed with a comprehensive design that integrates sustainability, energy efficiency, style, lower operating costs and technology to create superior resident lifestyle. Each unit is pre-wired for solar connectivity with Control4 home automation throughout. All of the units are designed to meet a Home Energy Rating System (HERS) score of 0 or less.
The three-story units average 1,570 square feet and offer direct-access garages. MZ Scottsdale features first-class, premium finishes including stainless steel appliances, quartz waterfall countertops, Italian porcelin flooring, 10-foot ceilings and expansive floor-to-ceiling windows/doors.
The open-concept floorplans offer oversized bathrooms, large walk-in closets and spacious patio/balconies.